This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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hardtimez View Drop Down
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Joined: 29/January/2007
Location: Japan
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hardtimez Quote  Post ReplyReply Direct Link To This Post Topic: caught in the struggle
    Posted: 15/February/2007 at 1:08pm
Hello all
lately i feel as though there is no hope to paying back my loan.
 
I owe about $45000,  I have an anthropology degree which as far as I know does not get my any decent paying work in Canada. So, I moved to Japan, here I'm working in Tokyo as a public school English teacher.  Yeah, the pay is okay..but in terms of my expenses (which are very high, ) I'm making $500 payments on my loan, however about %98 of that is going to pay my interest , so the princple is staying the same.
 
I've been out of school for 5 years come this april so, ive been researching debt reduction, however one of the requirements is that I reside in Canada to be eligible. It seems like a catch 22, because in Canada I won't even be able to make the interest payments.
 
What should I do? Is it worth paying the high interest  rates? I need help despertately...anything would help me.
 
thanks in advance..
 
 
 
 
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 16/February/2007 at 11:45am
If you would like help and a solution, call us.

Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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hardtimez View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hardtimez Quote  Post ReplyReply Direct Link To This Post Posted: 18/February/2007 at 5:16pm
Hi Johnny, thanks for your reply, if possible I'd like to start this by email..is calling a necessity?  sorry just that i pay about $10CAD for a 5 minute call using a phone card here in japan. If no other option I will call immediately.
 
Thanks in advance,
 
 
 
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